OPEN-SOURCE SCRIPT
Ehlers Adaptive Relative Strength Index V1 [CC]
The Adaptive Relative Strength Index was created by John Ehlers and this is his first version. I will of course publish his updated version at a later date along with publishing the final script from Jim Sloman's Ocean Theory book. I have changed his script to include extra smoothing to provide clear buy and sell signals. This is a version of a RSI that is very adaptive to changes by finding the length of the current cycle and using that to calculate the rsi and I use this same basic process to provide extra smoothing. A great strategy of course is to buy right after the indicator goes from below the oversold level to right above it and stay in until the indicator turns red or when it reaches the overbought level. I have included strong buy and sell signals in addition to normal ones and the darker colors mean strong signals and lighter colors are normal signals.
Let me know what other indicators you would like to see me publish!
Let me know what other indicators you would like to see me publish!
Open-source script
In true TradingView spirit, the author of this script has published it open-source, so traders can understand and verify it. Cheers to the author! You may use it for free, but reuse of this code in publication is governed by House rules. You can favorite it to use it on a chart.
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github.com/ooples/
Custom Indicator Requests:
forms.gle/ouMffZR3dQ8bSJQG7
Tips are appreciated:
paypal.me/cheatcountry
patreon.com/cheatcountry
Disclaimer
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